A pooling equilibrium in
game theory is an equilibria result of a
signaling game
In game theory, a signaling game is a simple type of a dynamic Bayesian game.Subsection 8.2.2 in Fudenberg Trole 1991, pp. 326–331
The essence of a signalling game is that one player takes an action, the signal, to convey information to anoth ...
.
In a signaling game, players send actions called "signals" to other players in the game. Signaling actions are chosen based on privately held information (not known by other players in the game). These actions do not reveal a player's "type" to other players in the game, and other players will choose
strategies
Strategy (from Greek στρατηγία ''stratēgia'', "art of troop leader; office of general, command, generalship") is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art ...
accordingly. Under this equilibria, all types of a given sender will send the same signal, some representing their true type, some correctly mimicking the type of others, as they have no incentive to differentiate themselves. The receiver therefore acts like having received no information/message maximizing his/her utility according to his/her prior belief.
See also
separating equilibrium In signaling games, a separating equilibrium is a type of perfect Bayesian equilibrium where agents with different characteristics choose different actions.
See also
* Signaling games
* Pooling equilibrium
*Cheap talk
In game theory, cheap tal ...
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Game theory equilibrium concepts
Asymmetric information
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